The Chinese economy began to slow down

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www.vsyako.netPhoto: Issei Kato / Reuters

In the first half of 2019, the growth in gross domestic product (GDP) of China reached 45,09 trillion yuan (about 6.56 billion dollars), reaching 6.3 percent in annual terms. On Monday, July 15, reported the Agency “Xinhua” with reference to the published State statistical administration of China (SSAC) report.

In the first quarter of this year, the PRC’s GDP amounted to 6.4 percent, the second at 6.2. The representative of the SSAC Mao Shanjun said that overall economic indicators were stable and indicated growth in some areas. We are talking about the volume of production in the service sector, which in the first six months of 2019 were up by 7 per cent (this sector accounts for more than half, 54.9 per cent of total GDP).

The Chinese economy for several years is under pressure, resulting in the slowdown of the economy. So, in 2018 China’s GDP has dropped 1.5 percentage points to 6.6 percent or of 13.28 trillion dollars.

At the end of June during the G20 summit in Osaka, the Chinese President XI Jinping announced major threat to the global economy. According to him, the global economy overall is growing, but along with it are noticeably growing factors of instability and uncertainty. The main threat to be “persistent and unilateral protectionist measures of some developed countries” that are artificially provoke trade friction and siege technology.

Video, photo All from Russia.

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